National Spot Exchange Limited (NSEL) is a commodity exchange in India which conducts spot trading in various agricultural and non agricultural commodities. The exchange is a joint venture of Financial Technologies India Ltd.(FTIL) and National Agricultural Co-operative Marketing Federation of India Ltd (NAFED). NSEL is looking to tap the capital market and the long-term objective is to reduce FTIL’s stake to about 26 per centwhich is 99% at present. The company will initially start by shedding 5-10 per cent stake. Finally the objective is to go for an IPO after two years.
The present turnover of the exchange every day is close to Rs 50-60 crore. The exchange is hoping to have a daily turnover of close to Rs 1,500 crore over the next one year by introducing 15 commodities under its newly launched E-series over the next one year. The exchange is hoping at a turnover of at least Rs 100 crore in each of these commodities in the next one year.
The E-series of NSEL is designed to develop a cash segment in commodities for investments by the retail segment in the demat form. The exchange is looking at commodities like steel, copper, nickel, cadmium and aluminum among others.
The present turnover of the exchange every day is close to Rs 50-60 crore. The exchange is hoping to have a daily turnover of close to Rs 1,500 crore over the next one year by introducing 15 commodities under its newly launched E-series over the next one year. The exchange is hoping at a turnover of at least Rs 100 crore in each of these commodities in the next one year.
The E-series of NSEL is designed to develop a cash segment in commodities for investments by the retail segment in the demat form. The exchange is looking at commodities like steel, copper, nickel, cadmium and aluminum among others.
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